Everstone investment will help SHPL realize its global goals
Singapore-headquartered Everstone Capital, a private equity arm of the Everstone Group, has taken a controlling stake in Softgel Healthcare (SHPL), a specialized niche dosage form focused manufacturing player catering to the global nutraceutical, pharmaceutical and OTC segments from Chennai.
This partnership aims to transform SHPL into a scaled, diversified and globally recognized contract research, development and manufacturing organization in India with support of the strategic resources of Everstone.
SHPL is part of the Madras Pharma Group, a leading pharmaceutical contract manufacturing organization in southern India, with 8 manufacturing facilities covering all dosage forms. It has customers across the Americas, Africa, Asia and India.
With over 80% of its sales from exports, SHPL has a state-of-the-art manufacturing facility in Chennai, conforming to globally recognized certifications and registrations such as USFDA, TGA, EU-GMP, Health Canada, among others.
Sharing his views on the investment, Sameer Sain, Co-founder & CEO, Everstone Group, said, “We believe that Everstone’s value creation playbook will help SHPL realize its global goals and propel the company into its next phase of growth.
“We are delighted to partner with SHPL, A.M. Sulaiman and the management team lead by Dr Vijay Alagappan. The company, with its strong R&D capabilities and ability to manufacture products in advanced dosage forms, is well positioned to be a global leader in the CDMO segment.”
Puncham Mukim and Dr Arjun Oberoi, Managing Directors, Everstone Capital will join the board of SHFL.
A.M. Sulaiman, Founder-Chairman of the Madras Group, said, “The investment from Everstone will accelerate organization learning to provide best-in-class products and services to our customers and become a manufacturer of choice.
“We are delighted to have Everstone as a partner in SHPL as we move ahead into an exciting growth phase in this business.
Everstone Capital is a global firm committed to driving economic growth and creating sustainable value. With seven offices globally (Singapore, Mumbai, Delhi, Bengaluru, New York, Dubai and Mauritius), Everstone Capital focuses on the mid-market with control mindset and growth bias; comprising best of breed investing, operations and strategic resources with significant experience and skills. fiinews.com
